Selling BTC for Alt Coins? | Bitcointalksearch.org

SOKO-DEKE

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Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea?

I don't think it is a good idea to sell off your bitcoin and use the money to invest in some altcoins. I know you are aware that altcoins are not reliable at all. So the best advice I will give you is to hold your bitcoin, and with patience, you will surely make reasonable profits from it. Don't be so eager to make quick money in the crypto industry, because I believe your aim may be that you want to make quick money, which is why you are thinking of selling your bitcoin and investing in alternative coins. I am not fully condemning all alternative coins, but the truth is that 98% of them are pump and dump coins. and you may likely lose your money if you invest in them.

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Quote from: andyou1234 on May 10, 2024, 01:56:22 PM

Wow, in my opinion it's just an option because both are equally good for investing, but if you have made a profit after selling Bitcoin and exchanging it for altcoins I think that's okay, but if you still haven't made a profit from your investment then it's best if you Don't sell it yet because the price of bitcoin will definitely rise again.

If it us progress with market price in long term then edge would be to Bitcoin regardless of higher increase rate with Altcoins. Best thing to do is to diversify your money to both Bitcoin and altcoins of your choice. Volatility is higher thn with majority of altcoins and that simply means higher risk as well. Personally, I allot another wallet for altcoin holdings to separate my investment money than to be affected by the other. Another thing to consider is which altcoin would you be investing; not all altcoins are good for long term. If it is with major altcoins then it would be worthy of consideration.

Quote from: Stable090 on May 12, 2024, 11:17:14 AM

Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea?

Are you really serious that you are planning to sell your bitcoin just to invest in alt coins? I don’t know who gave you advice to do that, but seriously, anyone that asks you to do that is misleading you. I hope you know altcoins are not really reliable, anything can happen to them at any moment, and you will end up losing your money. Why don’t you just keep on holding your bitcoin and you will have peace of mind? You are desperate, looking for a coin that will give you a high reward. Don’t be surprised that you will end up losing after investing in those coins you are planning to sell your bitcoin for.

The option is not that useless at all. Altcoins are really profitable and engaging into these, would also be a good idea. I also want to oppose on selling to move into altcoins if he's chasing profit. Rate of increase with altcoins are just too convincing but will never ne as reliable as with small increase with Bitcoin's.

Stable090

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Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea?

Are you really serious that you are planning to sell your bitcoin just to invest in alt coins? I don’t know who gave you advice to do that, but seriously, anyone that asks you to do that is misleading you. I hope you know altcoins are not really reliable, anything can happen to them at any moment, and you will end up losing your money. Why don’t you just keep on holding your bitcoin and you will have peace of mind? You are desperate, looking for a coin that will give you a high reward. Don’t be surprised that you will end up losing after investing in those coins you are planning to sell your bitcoin for.

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Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea? I know Bitcoin will never ever do another 5x in the near future haha so that's kind of why I would wanna sell. The market cap of btc would have to reach a very high amount for it to be life-changing money to me.

In as much as investing on altcoins is good but i wouldn't advise someone to sell his Bitcoin in other to invest the money on altcoins because Bitcoin is the most trusted coin and if it happens that after selling your Bitcoin and invested it on altcoins and it happens that the coin crashed which means that all your funds are gone so instead of selling your Bitcoin you could save another money to invest for other altcoins.

Bitco55

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Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea? I know Bitcoin will never ever do another 5x in the near future haha so that's kind of why I would wanna sell. The market cap of btc would have to reach a very high amount for it to be life-changing money to me.

When I read the topic of this thread, the follow come in my head was... " Is quite dumb".

If for personal reasons, you think that'll be a good idea, then fine, go ahead, but if it's for financial reasons, considering where Bitcoin is now and is still going to be, I personally think that's a freaking dumb idea. Investing in 5 separate altcoins won't be able to even reach Bitcoin, so like why?

I honestly think you should continue to hold Bitcoin, make more money, and invest in altcoins, as you wish to do. But liquidating your Bitcoin holdings only to invest in altcoins isn't really a smart idea.

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Quote from: Fiasem20 on May 11, 2024, 10:04:25 AM

Selling BTC for altcoins sounds funny tho.BTC the best among the rest,I can't sell BTC to buy altcoins rather I would invest what I can afford to lose on altcoins and keep accumulating and holding BTC.
I can see your a short term investor, BTC is not a get quick rich scheme so if lack patient you can divert and make profit from altcoins.And where did you get the prediction that Bitcoin will not near 5× in the future, that's the most terrible prediction I've ever heard on the forum.

In fact, investing in bitcoins does not yield high profits quickly. If you want to invest in Bitcoin, you must plan to hold it for the long term. OP decided to invest in altcoins by selling bitcoins for 5x profit which is wrong decision. Yes it's not that you can't get 5x profit in future if you invest in Bitcoin, you need to be patient and hold investment for long term if you want to get 5x profit. Those who invest in various altcoins in the market hoping to earn more than 5x profit due to excessive greed end up facing losses. We don't know what the OP decided? What bitcoins have you sold?

Fiasem20

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Selling BTC for altcoins sounds funny tho.BTC the best among the rest,I can't sell BTC to buy altcoins rather I would invest what I can afford to lose on altcoins and keep accumulating and holding BTC.
I can see your a short term investor, BTC is not a get quick rich scheme so if lack patient you can divert and make profit from altcoins.And where did you get the prediction that Bitcoin will not near 5× in the future, that's the most terrible prediction I've ever heard on the forum.

Fiasem20

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Selling BTC for altcoins sounds funny tho.BTC the best among the rest,I can't sell BTC to buy altcoins rather I would invest what I can afford to lose on altcoins and keep accumulating and holding BTC.
I can see your a short term trader, BTC is not a get quick rich scheme so if lack patient you can divert and make profit from altcoins.And where did you get the prediction that Bitcoin will not near 5× in the future, that's the most terrible prediction I've ever heard on the forum.

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Quote from: andyou1234 on May 10, 2024, 01:56:22 PM

Wow, in my opinion it's just an option because both are equally good for investing, but if you have made a profit after selling Bitcoin and exchanging it for altcoins I think that's okay, but if you still haven't made a profit from your investment then it's best if you Don't sell it yet because the price of bitcoin will definitely rise again.

Alternative way is ok to get profit from both sides but selling bitcoin for altcoin will never be the right decision. Altcoins have more risk there are many altcoin currencies that move upwards based on the bitcoin price. Instead of selling before investing you have to divide the investment into two.

Riginac111

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Quote from: AllYourBitcoinRBelong2Us on March 10, 2024, 01:14:38 PM

I have around 2.1k in btc rn and was wondering if I should sell it and invest in a couple of altcoin projects, would that be a good idea? I know Bitcoin will never ever do another 5x in the near future haha so that's kind of why I would wanna sell. The market cap of btc would have to reach a very high amount for it to be life-changing money to me.

a Bitcoin I will not like to advise you to sell your Bitcoin to buy altcoin I know very well that bitcoin is a big project and when the value decreases in the market it will take not much time for the value to restore but when altcoin decreases in value it take much time for the price to increase in the value, so I know thing's that supposed have be a good for someone who is into cryptocurrency investment. Don't invest on coin that does not have a value normally invest on coin that I have a value that can survive

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Quote from: strunberg on May 10, 2024, 07:54:11 AM

But if you sold Bitcoin and bought altcoins like Hbar, Manta, Wif, or Altlayer in March, you have already made a loss. I think Bitcoin has experienced a decline of about 10-15% from its price in March.

If you want to protect your bitcoin against its temporary dips then I suggest just holding it in stablecoins for the meantime instead of holding it in altcoins. If bitcoin dips, altcoins will most likely feel the consequences twice as much. Even if you choose a really good project, none of them will be able to surpass bitcoin especially in times where the market is in a downturn movement.

DiMarxist

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Op from your tone you are short term investor because it has a only a short term investors can say such a thing. And if you are doing.likw the cryptocurrency market, you lost your coin one day in the hand a scammer because you looking for a get rich quick investment and bitcoin is not part they your mindset. If you have such amount of bitcoin, I will advise you to keep it in bitcoin and look for another funds to invest in altcoins.
Don't sell bitcoin for altcoins but sell altcoins for bitcoin. That is my simple advise for you.

andyou1234

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Wow, in my opinion it's just an option because both are equally good for investing, but if you have made a profit after selling Bitcoin and exchanging it for altcoins I think that's okay, but if you still haven't made a profit from your investment then it's best if you Don't sell it yet because the price of bitcoin will definitely rise again.

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Quote from: Bushdark on May 10, 2024, 05:50:42 AM

Now that the price of Bitcoin is down and altcoins also, op can always decide to sell some Bitcoin and buy altcoins but it should not be all. The price of Bitcoin is still going to skyrocket and we just have to hold some altcoins that has good momentum so that we can be able to ride the market and make good money. Since we all know that Bitcoin can not hit 2x but their are altcoins that can hit 5x when the bull finally arrives. This bull could commenced anytime from now and we should be prepared.

Both are beneficial whether it's a bitcoin or altcoins but wrong altcoins selection sometimes forces you to regret your act of selling Bitcoin for altcoins. I think if someone has just bought Bitcoin then don't sell it for altcoins because you can save another portion of altcoins too as all altcoins are not expensive so you can buy it by accumulating little percentage for it instead of selling your Bitcoin.

Ethereum, BNB and Solana are trending coins and also are top coins so must buy these altcoins before the end of current year as good months are coming very soon in which we will see that Bitcoin and top altcoins are going to touch the new higher values which will only be favorable for us if we have hold it.

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Quote from: bastian466 on March 10, 2024, 02:19:30 PM

Only do it if you are satisfied or have reached the predetermined target point for your investment profits. My question is, do you believe that switching to altcoins can change your life for the better? Very careful consideration is needed to determine a decision

Yes, perhaps if he is satisfied with the ROI that he has gained so far from his Bitcoin investment, then he should by all means diversify it into any altcoin that he feels will give him the kind of profits that he desired on the short term. But seeing as we're entering bull run, I think that this is still a good time to keep accumulating Bitcoin, instead of selling it, because unlike altcoins that are risky to invest in because of many scam projects, Bitcoin is guaranteed to give you massive or reasonable ROI in the peak of bull run. Let the OP carry out a thorough research on the project of his choice before buying, so that he doesn't lose his money in a shitcoin

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I wouldn’t advise it, lots of people have ended up totally REKT doing this. It’s fine to have an altcoin allocation in your portfolio but don’t do it at the expense of your Bitcoin holdings. Bitcoin is trusted, has a verifiable long history of success, you can lose everything in altcoins. A small % is fine but don’t throw your Bitcoin into pinning the tail on the donkey.

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I suggest that you should continue to hold the bitcoin that you have because the halving has started and bitcoin is the cryptocurrency with the most potential to rise. I'm talking in the context of the most popular cryptos, meaning comparing bitcoin with big altcoins like ETH, BNB, etc. Even though it has the possibility of increasing up to 5x or more, I do not recommend that you invest in new altcoins because the potential for losses is also large.

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Quote from: Bushdark on May 10, 2024, 05:50:42 AM

Now that the price of Bitcoin is down and altcoins also, op can always decide to sell some Bitcoin and buy altcoins but it should not be all. The price of Bitcoin is still going to skyrocket and we just have to hold some altcoins that has good momentum so that we can be able to ride the market and make good money. Since we all know that Bitcoin can not hit 2x but their are altcoins that can hit 5x when the bull finally arrives. This bull could commenced anytime from now and we should be prepared.

But if you sold Bitcoin and bought altcoins like Hbar, Manta, Wif, or Altlayer in March, you have already made a loss. I think Bitcoin has experienced a decline of about 10-15% from its price in March. Meanwhile, most altcoins experienced a decline of up to 50%. This means if you have suffered a loss. I think selling BTC and buying altcoins is a great option for short-term trading, but it won't be great for holding for the long term.

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Quote from: Bushdark on May 10, 2024, 05:50:42 AM

Now that the price of Bitcoin is down and altcoins also, op can always decide to sell some Bitcoin and buy altcoins but it should not be all. The price of Bitcoin is still going to skyrocket and we just have to hold some altcoins that has good momentum so that we can be able to ride the market and make good money. Since we all know that Bitcoin can not hit 2x but their are altcoins that can hit 5x when the bull finally arrives. This bull could commenced anytime from now and we should be prepared.

I think is a matter of choice for me I can't sell my bitcoin to buy altcoins, for the fact that Bitcoin has reduced from it value does not mean that it won't rise again we just need to exercise patient, investing on altcoins is very risky, reason is because you don't know if you're investing in the profiting coin or the one that will be dump soon, even if the bull is around the corner I will never advice anyone to sell his bitcoin and go for altcoins even if it is half of your bitcoin I will advice you just hold on to it. However bitcoin has a good potential in the future, we don't have to be curious to get profit, because sometimes been curious to get something causes a lot of damage.

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Now that the price of Bitcoin is down and altcoins also, op can always decide to sell some Bitcoin and buy altcoins but it should not be all. The price of Bitcoin is still going to skyrocket and we just have to hold some altcoins that has good momentum so that we can be able to ride the market and make good money. Since we all know that Bitcoin can not hit 2x but their are altcoins that can hit 5x when the bull finally arrives. This bull could commenced anytime from now and we should be prepared.

Topic: Selling BTC for Alt Coins? (Read 1156 times)